General Motors Co. said Thursday it made $1.33 billion in the second quarter, a sign it's getting healthier as it prepares to sell stock to the public.
It was the second straight quarterly profit for the Detroit automaker, which made $865 million in the first quarter, and sets the stage for GM to file paperwork soon to start the public stock sale process.
CEO Ed Whitacre said last week that the company is eager to sell shares in an initial public offering so it can end its dependence on the government and pay off $43.3 billion in bailout funds that were converted into a majority stake in the company. Whitacre wants the company to shed its "Government Motors" moniker because it's hurting sales and the company's image.
Answer by Carpy at 1:33 PM on Aug. 12, 2010
Answer by sopranomommy at 2:11 PM on Aug. 12, 2010
Answer by May-20 at 3:38 PM on Aug. 12, 2010
Answer by itsmesteph11 at 4:20 PM on Aug. 12, 2010
Answer by itsmesteph11 at 4:22 PM on Aug. 12, 2010
Answer by hot-mama86 at 3:09 PM on Aug. 12, 2010
They will be lucky to find any investors when Obama threw the investors to the curb in favor of the unions.
Answer by Natesmom507 at 3:38 PM on Aug. 12, 2010